[WSBARP] Deed of Trust Foreclosure - Foreclosure Loss Mitigation Form

[John McCrady]

I have always interpreted this section as not applying to your situation.

(7)(a) This section applies only to deeds of trust that are recorded against residential real property of up to four units. This section does not apply to deeds of trust: (i) Securing a commercial loan; (ii) securing obligations of a grantor who is not the borrower or a guarantor; or (iii) securing a purchaser's obligations under a seller-financed sale.

If I am wrong I would love to be corrected.

John McCrady
Counsel
Puget Sound Title Company
5350 Orchard Street West
University Place WA 98467
253-476-5721
j.mccrady at pstitle.com<mailto:j.mccrady at pstitle.com>



Beginning July 26, 2021, recording fees for most documents recorded in Washington will increase by $100<https://www.piercecountywa.gov/DocumentCenter/View/105275/Recording-Fee-Schedule-Effective-Jul-25-2021->. Please be sure to collect recording fees accordingly. Due to the above increase, our Reconveyance fees will also be increased by $100.00

WARNING-FRAUDULENT FUNDING INSTRUCTIONS
Email hacking and fraud are on the rise to fraudulently misdirect funds.  Please call your escrow officer immediately using contact information found from an independent source, such as the sales contract or internet, to verify any funding instructions received.  We are not responsible for any wire sent by you to an incorrect bank account.


From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Jeff at bellanddavispllc.com
Sent: Thursday, April 07, 2022 8:55 AM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Deed of Trust Foreclosure - Foreclosure Loss Mitigation Form

Listmates:

Clients want to foreclose on two vacant, housing lots, subject to their "seller" financing deed of trust.  In the past, we could check  boxes saying that RCW 61.24.031 notice did not apply as it was seller financing or that it was not owner occupied.   In looking at the current version of RCW 61.24.031, that was amended in 2021, none of those options appear.  So do all the protections applicable to owner occupied primary residence now apply to vacant lots under seller financing?

Jeff

W. Jeff Davis
BELL & DAVIS PLLC
P.O. Box 510
720 E. Washington Street, Suite 105
Sequim WA 98382
Phone: (360) 683.1129
Fax: (360) 683.1258
email: jeff at bellanddavispllc.com<mailto:jeff at bellanddavispllc.com>
www.bellanddavispllc.com<https://f.xdref.com/?id=237G2kVu051478&from=wsbarp-bounces@lists.wsbarppt.com&to=j.mccrady@pstitle.com&url=http://www.bellanddavispllc.com/>

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